Granted there were a lot of people hurt in the last real estate crash but this does not mean real estate is not a good investment.  Long term it is very hard to beat the returns on property if you are investing in places which will give you a return on a monthly basis.  By this I mean rental or leased properties.  If you are buying raw land and waiting for it to appreciate to a point where you can make some money you are better off putting your cash in a bank.  People who make money real estate investing buy properties that will pay for themselves and then when the property appreciates it is like getting free money.

One area really hit hard by the recent bubble was Florida.  This area, along with California, Nevada, and Arizona was drastically overbuilt.  There was no way all the homes and condos were going to be sold as fast as the developers claimed.  So the developers lost their shirts and now the people who really understand how the market works are swooping in and buying great places for a fraction of the building cost.

In particular, Miami Beach condo deals are working out very well for people who stayed out of the market until there was “blood in the streets” and then they started to pick up distressed properties left and right.  The fact is people still want to live in these areas like Miami Beach.  So if you can buy a condo for a more realistic price than they have been offered for in the last few years, and you can rent it out for a year or two, then as properties appreciate again, you can sell it for a profit.  The old adage “buy low and sell high,” is at work here for people who are in the know.  Most experts agree we are at or near the bottom for residential real estate so now is a time to start looking around for deals.